Ashima on Tuesday informed the exchanges that it would realise about ₹100 crore by March 31, 2018 by selling the land surplus land not required for textile operations, and another ₹69 crore by March 31, 2019. Earlier, the company on August 11 had disclosed to its shareholders in the AGM of its plans to mobilise resources from internal sources by disposing of assets such as plant & machinery, utilities and land, which were not required for the company’s textile operations. The company had then said it intended to utilise the proceeds for revamping and modernising its textile operations, funding its working capital requirements, and repaying other secured debts. Shares of Ashima slipped 2 per cent at ₹22.75 on the NSE.

Omkar Speciality Chemicals has informed the exchanges that it has received in-principle approval from the NSE for listing the equity shares of Lasa Supergenerics pursuant to a composite scheme of arrangement. According to the scheme, Lasa Laboratory Private Ltd, Urdhwa Chemicals Company Private Ltd, Desh Chemicals Private Ltd and Rishichem Research will merge with Omkar Speciality Chemicals, while the Veterinary API undertaking of Omkar would be demerged into Lasa Supergenerics, which will allot one equity share for each share held to Omkar shareholders. The company had fixed June 13 as record date for the purpose of determining the shareholders of Omkar to receive Lasa Supergenerics’ shares. The stock of Omkar closed marginally down at ₹87.45 against the previous day’s close of ₹88.10 on the NSE.

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